While music labels have been experiencing a decline in record sales for the past decade, they seek to diversify their business in order to generate revenues in a business environment characterized by changed consumer behavior and constant technological advancements. Adopting the theoretical perspective of the resource-based view of the firm, this paper studies if today’s record companies’ strategies give them competitive advantage. Emergent business opportunities of music access, legal downloading, social-networks and ad-supported services, new areas of music licensing, and consumer relationship are identified to be essential in record companies’ strategies. Based on data generated through online research and qualitative interviews, the two type of record companies, Majors and Independents, display different potentials of reaching competitive advantage based on their selection, accumulation and deployment of resources.
|Educations||MSocSc in Management of Creative Business Processes , (Graduate Programme) Final Thesis|
|Number of pages||86|